10 places where you only need $100,000 to retire

MoneyWise released its picks for the 10 places in the world that you can retire for less than $100,000.

For many, planning for retirement can be complicated.

When should you do it and how much you need to do it are some of the main topics that come up. But a recently published list from MoneyWise shows you don’t need much to end your working days. In fact, there are several destinations around the globe where it’ll only cost $100,000 to retire.

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To come up with the list, the digital personal finance publication looked at a broad set of data to locate the countries with the most affordable rent, food and heath care among other factors. Retiring in these places will leave you paying much less in living costs, while still enjoying most of the same amenities you’d have by retiring in the U.S. In some cases, maybe even better.

Included on the list are destinations in South America, Europe, Africa and Asia.

In Costa Rica, retirees can enjoy lush rainforests and tropical landscapes. Depending on the location and space, rent can range from $300 to $1,300 monthly.

If a tropical, wet climate isn’t for you, Morocco offers mild, wet winters and dry hot summers. While Numbeo reported rent in the North African Country’s largest city, Casablanca, can go for around $450 a month, less populated cities like Rabat provide housing that’s even easier on the budget. Private health care isn’t as affordable, but groceries definitely won’t break the bank.

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Ecuador is another spot that made MoneyWise’s list, but retirees leaving America to live there should know they’ll need to obtain a temporary residency visa beforehand so they can reside there beyond 90 days. The visa is valid for up to two years and after spending 21 months in Ecuador, you’re allowed to apply to become a permanent resident.

For those who want to save money and get a glimpse at architectural marvels, another South American country fits the bill. Peru is one of the continent’s least expensive nations. A retiree in Arequipa or Trujillo could survive on just $24,000 annually.

There’s also an option to enjoy the sights of Malaysia in your post-work life. It’ll only take $20,000 a year for a couple to retire in this Southeast Asian country — if they choose a less spacious apartment than the high-rises with up to five bedrooms. Still, the funds include dining out at local eateries and a maid for four hours per week.

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In no particular order, MoneyWise’s complete list of places to retire for under $100,000 is as follows:

  1. Egypt
  2. Malaysia
  3. Peru
  4. Ecuador
  5. Colombia
  6. Panama
  7. Morocco
  8. Mexico
  9. Portugal
  10. Costa Rica

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